Exports of cars in free fall : -36 % in december (-42 % in value)

Vertiginous !

We have already a glimpse on the december exports massacre (and here for the rest of Asia). Here are details about the car market.

The results for the year are not very relevant (2008 seems like in another century)… What is important is the new trend, november and december.

And to my knowledge cars are not shipped by air freight (with the problem of the airport closure…). 😉

According to the Federation of Thai Industries’ Automotive Industry Club, a number of 776,140 units were exported throughout the year, up 12.47 per cent on year. The export value totalled Bt563.5 billion, 17.22 per cent higher than the previous year.

In 2008, they produced 1.394 million cars, up 8.29 per cent on year.

Exports were hit hard in November and December. In the last month, export volume dropped 36.65 per cent on year to 43,273 units, due mainly to a cut in orders from Asia, Australia, Europe, Central America and South America, said Surapong Paisitpatnapong, a spokesman for the club. (Nation)

In value (for december), the drop is… 42,11 %, at 508 millions USD (source same report, but with more details given by Phnom Penh Post)

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Thailand Crisis

Coup, Economic slowdown, Terror In the South... The situation is worsening in Thailand. Bumpy road like often before.

But this time, it's different.

The key to understand the present turmoil is the inevitable... succession of King Bhumibol.


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